+ Brand new five (5) year lease to 2028.
+ Xpress Gourmet Pizza: Established in 2010, growing fast-food retailer with five (5) stores across Victoria and two (2) more coming soon.
+ Desirable annual CPI rental reviews.
+ Investor friendly net lease, with tenant paying all usual outgoings.
+ High-Profile 126 sqm* retail shop over two (2) titles with impressive fit-out in accordance with the tenant's corporate layout and design consisting of restaurant and takeaway component along with on-site liquor license.
+ Blue chip retail location in the heart of the Rye Town Centre, less than 650 metres* from Woolworths, Rye RSL, Rye Hotel, Subway, Australia Post and Rip Curl.
+ Prime beachfront position directly across from Rye foreshore campgrounds, Rye Pier, Front Beach and Rye Summer & Easter Carnival.
+ Direct Exposure to Point Nepean Road, a major commuter road, in the off peak period sees 21,400+ vehicles passing daily.**
+ Single tenant minimum management investment.
+ Within a 3 km radius, the total household spending on retail totaled $17.35 million in 2022.**
+ Booming bayside destination, Rye has a median house price of $1,100,000 up 47% since October 2020. ***
+ Mornington Peninsula Shire: Tourism has seen a 55% increase from the previous year with total domestic tourists reaching 8.23 million people.****
+ Entry level investment within tightly held Rye retail precinct.
+ Estimated Net Income: $57,327 pa* + GST.
To be sold via Investment Portfolio Auction 165
10:30am (AEDT) Wednesday 6 December 2023
River Room, Crown Casino, Melbourne.
This property is being sold along with two other investments within the same retail complex. Also Available:
Shop 5 Rye Clip Joint
+ Brand new three (3) year lease to 2026 plus one (1) further two (2) year option to 2028.
+ Estimated Net Income: $34,415 pa* + GST.
Shop 8 Bayside Fish & Chips
+ Brand new five (5) year lease to 2028.
+ Estimated Net Income: $37,305 pa* + GST.
*Approx
**Gap Maps
*** ***
**** Mornington Peninsula Shire
